Canton Hathaway LLC Acquires 5,080 Shares of Flutter Entertainment PLC (NYSE:FLUT)

Canton Hathaway LLC increased its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 360.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,490 shares of the company's stock after buying an additional 5,080 shares during the period. Canton Hathaway LLC's holdings in Flutter Entertainment were worth $1,438,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new position in Flutter Entertainment during the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC grew its holdings in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. GPS Wealth Strategies Group LLC grew its holdings in Flutter Entertainment by 1,375.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. Parallel Advisors LLC grew its holdings in Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after purchasing an additional 60 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after purchasing an additional 83 shares during the last quarter.

Flutter Entertainment Stock Performance

FLUT stock traded down $8.54 during midday trading on Friday, hitting $263.94. The stock had a trading volume of 7,234,954 shares, compared to its average volume of 1,952,161. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The stock has a 50-day simple moving average of $246.14 and a 200 day simple moving average of $253.30. Flutter Entertainment PLC has a 52 week low of $175.59 and a 52 week high of $299.73. The firm has a market capitalization of $46.63 billion and a price-to-earnings ratio of 91.33.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. The business's revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Insiders Place Their Bets

In other Flutter Entertainment news, Director Atif Rafiq sold 265 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $244.18, for a total transaction of $64,707.70. Following the completion of the transaction, the director now directly owns 2,474 shares in the company, valued at $604,101.32. This represents a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO James Philip Bishop sold 3,000 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $243.20, for a total value of $729,600.00. Following the completion of the sale, the chief operating officer now owns 4,712 shares of the company's stock, valued at approximately $1,145,958.40. This trade represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock worth $1,894,934 over the last three months.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FLUT shares. Benchmark reissued a "buy" rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research report on Monday, April 21st. Citigroup reissued an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Macquarie reissued an "outperform" rating and issued a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a research report on Thursday, May 8th. BTIG Research reduced their price objective on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Hsbc Global Res raised Flutter Entertainment to a "hold" rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $303.79.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.